The Sharjah Chamber of Commerce & Industry recently took part in the official commercial state mission, organized by the Ministry of Economy, under the chairmanship of H.E. Engineer Sultan Bin Saeed Al Mansouri, Minister of Economy, to the republics of Cuba and Mexico from 20 to 25 November.
The Chamber delegation contributed in the inclusion of her Excellency Raghda Taryam, SCCI board member, and HE Khalid Bin Butti Al Hajri, Director General of SCCI played an effective role in the program visit through their positive participation in international economic forums that took place during these five days.
Khalid Bin Butti confirmed SCCI’s willingness to expand their investment opportunities, increase the movement of goods and touristic activities, between Sharjah and Cuba. Under this new cooperation, both sides seek to strengthen their economic, touristic, as well as commercial relations.
He also confirmed the Chamber’s willingness to strengthen its relations with the Mexican Chamber of Commerce & industry, so that both countries can promote economic cooperation in trade, mutual investments, goods, services by making use of their great potential. This cooperation will benefit the two countries and open up prospects for new business in the Emirate which will then attract further Mexican investments.
The Director General of the Chamber hoped this visit, headed by Al Mansouri, is a crucial step in developing strong economic relations with Cuba, which could then pave the way for further investment opportunities and cooperation.
In Cuba, the delegation took part in the Emirati-Cuban business conference, where they met with Dr. Celia Labora Rodriguez, International Relations Director of the Cuban Chamber of Commerce, and reviewed investment opportunities in the economic and industrial sectors, as well as bilateral relations between the two sides in order to achieve the member’s common interest.
During the meeting, the delegation reviewed the economic characteristics of Sharjah, how to facilitate foreign investments through free zones, airports, in addition to the Emirate’s advantages and infrastructure.
In Mexico, the delegation attended the first meeting of the "UAE – Mexican business forum" which was entitled “Experiences and business opportunities between the two countries”. During the session, Khalid Bin Butti did a presentation in which he explained how Sharjah can attract investment projects, take advantage of its strategic location, as well as its many other advantages.
In addition, the delegation held several meetings related to investment opportunities with officials from various financial institutions in Cuba and Mexico. During these meetings, several topics were discussed including the possibility of future cooperation between representatives of the business community in Sharjah with their counterparts in Cuba and Mexico.
Trade of non-oil products between the UAE and Mexico reached 1.5 billion dollars in 2015, while it reached 431.3 million dollars during the first half of this year. Mexico leads the market in terms of volume of non-oil Emirati exports to Latin America with 18.7%.
Cuba is one of the most influential countries in the Caribbean, and is considered one of the best trading partners of the UAE, since the bilateral trade volume between the two countries in the first half of this year reached 9.1 million dollars, while the total trade volume between the two countries reached $23 million last year. The UAE has currently four commercial agencies that import 121 brands from Cuba.